A paradigmatic model of customer money laundering risk in Iranian banks
Ahmadreza Ghasemi, Hosein Pourmahdian
One of problems and dysfunctions of financial institutions is the possibility to use them as a tool to facilitate the transfer of financial flows of dirty money in a money laundering process. Due to the complex criminal nature of the money laundering and the lack of a similar worldwide interpretation of the phenomenon, providing a native model for identifying the phenomenon is of significant importance in managing and reducing customer money laundering risk. The present study using the Grounded Theory (GT), has tried to explain the money laundering risk by proposing a paradigmatic model of customer money laundering risk in Iranian banks. The results represent causal conditions, criteria, confounding and underlying factors and consequences of customers' money laundering risk from the perspective of the participants. In the following parts, effective indices and sub-indices in money laundering risk OF actual and legal Iranian customers have been identified. In the end, the measurable indicators are presented. It is worth mentioning that due to lack of adequate integration between banking information systems with other monetary and financial institutions, all indicators can't be assessed yet. Thus, it will be possible to improve the reliability of money-laundering risk assessment system in the form of e-government in the light of the development of IT integration.
Ahmadreza Ghasemi, Hosein Pourmahdian. A paradigmatic model of customer money laundering risk in Iranian banks. International Journal of Commerce and Management Research, Volume 3, Issue 4, 2017, Pages 34-41